Asia’s scarce IPOs are attracting a crowd. Amid a dearth of listings, underwriters are jostling for a role on new equity offerings. Bankers get league table credit, while companies can claim safety in numbers. But there’s no future in scrapping over a dwindling fee pool. Banks must justify their existence in other ways - or shrink.

><table width='100%' border=0 cellspacing=0><tr><td style='FONT-FAMILY: Arial; FONT-SIZE: 18px; FONT-WEIGHT: bold; COLOR: #0253B7;'>Public crush</td></tr><tr><tr><td style='FONT-FAMILY: Arial; FONT-SIZE: 11px; '>Asia

Public crush

Asias crowded IPOs keep banks busy but poor

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